ABOUT THE BURSARY PROVIDER

Founded in 2003, the South African Actuaries Development Programme (SAADP) is a stand-alone, nonprofit organization. When it was determined that the South African economy lacked black actuarial talents, the SAADP was established. More than 200 graduates in Actuarial Science have come from the SAADP, which was previously chaired by Cyril Ramaphosa.

Numerous benefactors, including the First Rand Foundation, Deloitte, Discovery, Insight, Sasria SOC Limited, Bankseta, and INSETA, provide funding for the program. Proudly South African, excellence, integrity, professionalism, transparency, gender-neutrality, and nurturing and support are among the company's key principles.

FIELDS COVERED

The bursary will be given to students pursuing an Actuarial Science degree and associated credentials at one of the SAADP partner universities, such as WITS, UP, or UCT.

BURSARY RENEWAL AND COVERAGE

Each year, bursaries are renewed in accordance with financial availability and academic achievement.

 The following aid will be provided to bursary recipients:

     Funding assistance:

• Fees for tuition
• Allowance for textbooks
• Fees for residence
• Allowance for meals
• Living allowance

Psychosocial support: student mentoring program (younger students will receive social support and mentoring from senior pupils)

The goal of the life skills program is to prepare graduates for the corporate world by covering subjects including goal-setting, time management, CV writing, and interviewing techniques.

Academic support: extra classes or academic tutorials; additional tutorials are provided outside the core curriculum; senior students lead weekly extension tutorials and occasionally technical workshops are arranged)

Mentoring: excellent seniors will impart their knowledge, abilities, and experience to younger pupils.

BURSARY SELECTION

The following procedures should be noted by applicants when the bursary is awarded:

Step 1:Pre-screening: Applications will be examined to make sure they fulfill the prerequisites (you must have fulfilled the university's standards, the application was submitted on time, in full, and with all necessary supporting documentation)

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Step 2:Shortlisting: After reviewing applications (which is done outside of SAADP), the Students' Selection and Monitoring Committee sends a list of shortlisted applicants to SAADP. Only those who make the short list will be contacted; if you don't hear back, consider their application unsuccessful.

Step 3:Statements of Results Submission: Matric students must submit their final matric results; if they don't, they will not be considered for further consideration.

Step 4:Selection interviews: The SSMC will give the shortlisted matriculants an invitation to attend a selection interview. The SAADP will provide feedback to current students on the Selection Committee's choice. Successful candidates will be informed of the results of their interview.

ELIGIBILITY CRITERIA

Before applying for the bursary, applicants must meet the following minimal conditions;

 Students in Grade 12 or Matric:

• You must be a citizen of South Africa.
• You must be colored or black.
• You must currently be enrolled in Matric OR be in your first, second, or third year of study. You must receive at least 80% in Matric for Mathematics (not Mathematics Literacy).
• For Physical Science in Matric, you need to receive at least 80%.
• For English in Matric, you need to receive at least 80%.
• In 2026, you must be pursuing or plan to pursue a degree in actuarial science or a similar field.
• You must be enrolled in classes at or have applied to attend one of the colleges with ASSA accreditation that provide SAADP assistance. Students who are enrolled at other universities may also apply if they were accepted into one of the SAADP partner universities, such as the University of Cape Town (UCT), the University of Pretoria (UP), or the University of the Witwatersrand (Wits).
• Commercial stream students are required to apply to UCT's Actuarial Science program (UCT accepts students without Physical Science).
• You have to have taken the National Benchmark Test (NBT) or registered for it.
• In order to be contacted regarding your application, you need to have an active cell phone number, an active email address, and internet connection.
• You must be enrolled in classes at or have applied to attend one of the colleges with ASSA accreditation that provide SAADP assistance. Students who are enrolled at other universities may also apply if they were accepted into one of the SAADP partner universities, such as the University of Cape Town (UCT), the University of Pretoria (UP), or the University of the Witwatersrand (Wits).
• Commercial stream students are required to apply to UCT's Actuarial Science program (UCT accepts students without Physical Science).
• You have to have taken the National Benchmark Test (NBT) or registered for it.
• In order to be contacted regarding your application, you need to have an active cell phone number, an active email address, and internet connection.
• You must show potential to succeed academically in university
• You must be passionate about and very interested in becoming a professional in actuarial science.
• You must come from a household experiencing financial need or limited financial resources.

University students:

• You must be a citizen of South Africa.
• You must be colored or black.
• You must be pursuing an Actuarial Science degree or a similar one at the moment.
• You must be enrolled in or enrolled in one of the ASSA-accredited universities that provide SAADP support, and you must be in your first, second, or third year of study: Students who are enrolled at other universities may also apply if they were accepted into one of the SAADP partner universities, such as the University of Cape Town (UCT), the University of Pretoria (UP), or the University of the Witwatersrand (Wits).
• You must have had outstanding academic achievement.
• In order to be contacted regarding your application, you need to have an active cell phone number, an active email address, and internet connection.
• To ensure you can be reached regarding your application, please make sure you have an active cell phone number, a valid email address, and access to the internet.
• You must be passionate about and very interested in becoming a professional in actuarial science.
• You must come from a household experiencing financial need or limited financial resources.

if you don't meet all of them, your application won't be taken into consideration.

APPLICATION PROCESS FOR THE SAADP BURSARY

Download and fill out the application form:

SAADP Bursary Application Form 2025

Together with your filled-out application, send in clear copies of the following supporting papers:

 Students in Grade 12 or Matric:

• ID document, both sides of your ID card, or a certified copy of your birth certificate
• Final reports for grades 10 and 11 (certified copy)
• Matric reports (certified copy) for terms 1, 2, and 3
• NSC certificate and Matric final declaration of results (to be submitted with the release of Matric results) (certified duplicate)
• On the letterhead of the institution, an acceptance or provisional admission letter to one of the partner universities
• Two essays are required to be filled out on the application form:

1. one about yourself, your leadership abilities, academic accomplishments, and community involvement,
2. At least five reasons for your desire to become an actuary

• If one or both parents are deceased, please provide a certified copy of the death certificate or an affidavit as proof.

University students:

• A certified copy of your ID document or both sides of your ID card
• Complete academic transcripts, on the letterhead of the school, from the first year to the present
• If one or both parents are deceased, please provide a certified copy of the death certificate or an affidavit as proof.

 You must provide these documents; otherwise, your application may be rejected

Applications must be sent toapplications@saadp.co.za.

 Put "SAADP Bursary 2026" in the subject line of the email.

CLOSING DATE: 31 August 2025.

GET IN TOUCH WITH THE BURSARY PROVIDER

Please get in touch with the SAADP directly if you have any questions about this bursary program:

Email:applications@saadp.co.za

Phone:011 642 2202

For more bursaries visit: view more bursaries here